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CLM: Contractbook raises $30m Series B

Copenhagen-founded contract automation platform Contractbook has raised a $30m Series B financing round, dedicated to expansion into the United States.

The $30 Million Series B round is led by Tiger Global with participation from existing investors Bessemer Venture Partners, byFounders and Gradient Ventures. 

This investment comes only four months after the company raised a $9.3M A round. Founded in 2017, Contractbook has grown 3X year on year and has secured $43.6 Million in total funding up to date. 

Contractbook enables companies to automate their workflows across departments, enabling better decision-making based on smart analytics from the documents and the process around them. More than 150,000 users already use Contractbook’s comprehensive contract lifecycle management platform that allows businesses to create, sign and organize their contracts in a single streamlined workflow where every step can be automated.

“99% of the value from a contract comes post-signature, but this process has received almost no attention, until now,” says Contractbook’s founder and CEO, Niels Martin Brochner. “We are revolutionizing the existing online contract signing tools of today by creating the contract management platform of tomorrow and showing people that simple PDFs are an impediment to today’s efficient work environment.”

“Contractbook’s premium, proven and highly competitive product has differentiated itself from any other player on the market,” says Tiger Global’s Partner, John Curtius. “We see Contractbook as the bridge between a manual present and an automated future, a truly visionary company for the future of contracts. We are excited to partner up with them to conquer the US market.”

Caroline.hill@legalitlexicon.com